Masdar aims to double its investments in renewable energy in Uzbekistan.

Masdar, a global leader in renewable energy, intends to double its investments in Uzbekistan's energy sector, raising them from the current $2 billion to $4 billion in the coming years. This announcement was made by Abdulla Zayed, the company's Director of Business Development and Projects, during an interview with the O‘zbekiston 24 television channel.

https://uzdaily.uz/ru/masdar-planiruet-udvoit-svoi-investitsii-v-vozobnovliaemuiu-energetiku-uzbekistana/2025-01-06 08:47:27

The company is actively engaged in projects across various fields of renewable energy. These include a wind farm in Zarafshan, solar power plants in Karmana and Galaara, as well as the construction of new photovoltaic stations in Bukhara and Kashkadarya regions.

Additionally, during the UN Climate Conference COP29, held in November 2024 in Baku, an agreement was signed for the implementation of a project to build a 1,000 megawatt wind farm in the Uchkuduk district of Navoi region, Uzbekistan. The project is expected to generate 3.5 billion kilowatt-hours of electricity annually, which will save 1 billion cubic meters of natural gas and reduce harmful emissions into the atmosphere by 1.4 million tons.

Looking to the future, Abdulla Zayed noted that the company intends not only to continue developing projects in the fields of solar and wind energy but also to start investing in energy storage facilities and hydroelectric projects.

The primary goal is to strengthen Masdar's position in the energy market of Uzbekistan and establish long-term cooperation with the government, which actively supports the development of green energy and creates attractive conditions for investors.

With the support of the government of Uzbekistan and a strategic approach, Masdar is confidently moving towards doubling investment volumes and expanding its operations in the country, which, according to the company's management, will significantly contribute to the sustainable development of Uzbekistan's economy and ecology.

“Our company already powers more than 1 million households, and our goal is to double this figure,” he stated.

It is noteworthy that by 2030, Uzbekistan plans to increase its renewable energy capacity to over 20 gigawatts, which will account for approximately 40% of the total energy balance.